Core Scientific Shifts from Bitcoin Mining to AI Infrastructure with AMD Deal

Core Scientific is making a major shift from Bitcoin mining to AI infrastructure. The company has signed a deal with AMD to lease its AI infrastructure, starting next year. This move comes as Core Scientific pivots from crypto mining and focuses on building high-density colocation services.

The agreement between Core Scientific and AMD involves leasing up to 2.5 gigawatts of data center capacity in 2027 to support end-customer deployments of AMD AI solutions. As part of the deal, both companies will collaborate on physical infrastructure design and deploy AMD Instinct GPUs, EPYC CPUs, and ROCm software.

This move is not an isolated incident; several Bitcoin miners are pivoting towards providing AI infrastructure. Core Scientific has been repurposing its facilities to support high-density colocation services while also deriving revenue from crypto mining hosting services. The company still holds 547 BTC, having sold 1,900 earlier this year.

CORZ stock initially surged over 5% in premarket trading but has since dropped over 3% amid the announcement of Core Scientific's deal with AMD. Despite this, CORZ stock is up over 40% year-to-date as it transitions from Bitcoin mining to AI infrastructure.